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August 25, 2008 at 06:29 AM
U.S. sales of fixed annuities reached an estimated $24.6 billion in the second quarter, up 54.1% over year-ago levels, reports Beacon Research Inc.
Fixed annuity sales were at the highest in the quarters since its quarterly survey began in 2003.
On a year-to-date basis, total market sales were an estimated $43.5 billion, 47.3% above first half 2007.
By product type, estimated sales in second quarter, 2008 were: book value, $12 billion; indexed, $6.9 billion; market value-adjusted, $3.6 billion, and immediate, $2.1 billion, Beacon says.
